Item 2. Properties
Item 2. PROPERTIES
Our corporate headquarters and facilities are located in Salt Lake City, Utah. We currently lease a total of approximately 343,000 square feet of building space in Salt Lake City dedicated to research and development, administration and our laboratory that has received federal certification under CLIA. Activities related to our oncology, urology, and women’s health molecular diagnostic business are performed at this location. The leases on our existing Salt Lake City facilities have terms of five to fifteen years, expiring from 2025 through 2036, and provide for renewal options for up to ten additional years.
We also lease approximately 93,000 square feet in South San Francisco, California under two leases that expire in April 2025 and September 2025. This space is dedicated to administration, research and development and the CLIA-certified laboratory for our Women’s Health business.
We also lease a space in Mason, Ohio, with approximately 24,000 total square feet, which will expire in August 2024.
In addition, in late 2021, we entered into a non-cancelable operating lease for approximately 63,000 square feet in South San Francisco, California, which will commence in 2023 and expire in 2033. In the first quarter of 2022, we entered into a non-cancelable operating lease for approximately 230,000 square feet in Salt Lake City, Utah, which will commence in 2022 and expire in 2038.
We also lease several small office locations, including our manufacturing facility located in Cologne, Germany.
We believe that our existing facilities and equipment are well maintained and in good working condition. We believe our current facilities and those planned will provide adequate capacity for the foreseeable future. We continue to make investments in capital equipment as needed to meet the anticipated demand for our molecular diagnostic tests.
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